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| The UK access control market has been affected by the recent economic downturn |
According to Access Control, a new Market Update from market intelligence provider Key Note, the UK access control market fell by 1.3% in 2012, after the market contracted by 1.6% in the previous year.
The UK Access Control market has been affected by the recent economic downturn, weak business investment activities, and a declining construction market. In 2012, the value for business investment at chained volume measures was significantly lower than it was in 2008. Business investment activities are important for the access control market, as they provide new buildings which often require security systems, as well as renovating and upgrading existing ones.
The construction sector, which provides a major source of demand for access control products, has also been hit hard. Figures from National Statistics indicate that construction output in Great Britain fell by over 10% between 2008 and 2012, while the value for new construction orders decreased by over a quarter during the same period.
The majority of leading manufacturers and suppliers of access control in the UK are part of large, foreign-owned multinational companies; there are also a number of small, independent UK-based companies and subsidiaries of public limited companies (PLCs) that operate in the market.
Key Note forecasts that the UK access control market will grow by 7.3% by 2017, driven by an ongoing need for protection against crime and the gradual recovery of the UK’s economy.
